March 30, 2023
Chart
Industries and Nikola Execute Strategic Partnership for
Hydrogen-Related Equipment
![](images/images_03_30_2023/230118_nikola_hydrogen_mobile_fueler2-1536x710.jpg%20copy.jpg)
ATLANTA and PHOENIX, March 30, 2023 – Chart
Industries, Inc. (NYSE: GTLS), a leading global engineering design
and manufacturer of highly engineered equipment servicing multiple
applications in the clean energy and industrial gas markets, and Nikola
Corporation (NASDAQ: NKLA), a global leader in zero-emissions
transportation and energy supply and infrastructure solutions, via the
HYLA brand, executed a strategic collaboration agreement including
liquid hydrogen storage tanks, transport trailers, and the development
of new mobile and modular hydrogen refueling stations for quick
deployment. This agreement includes additional collaboration on the
advancement of hydrogen technology for infrastructure and truck
on-board fuel systems.
Nikola has recently signed purchase orders with Chart for multiple
liquid hydrogen storage tanks, mobile and modular refueling stations,
and liquid hydrogen transport trailers to meet Nikola’s needs for
deploying the Nikola Tre hydrogen electric vehicles to support key
customers and advance the efforts to decarbonize the transport sector.
This relationship builds on a previously signed development agreement
between Chart and Nikola to work together to develop innovative
solutions for the hydrogen electric vehicle market.
Through this agreement, Chart is providing first-of-kind fully
integrated mobile and modular hydrogen fueling stations for heavy-duty
vehicles providing a quickly deployable fueling solution with lower
capital requirements. This transportable fuel station lowers the
barrier to entry and is an ideal solution for smaller fleets or any
immediate and interim fueling needs. The dense liquid hydrogen storage
and efficient liquid high pressure dispense pump also lowers station
operating costs.
Nikola, via HYLA, is bringing comprehensive zero-emission heavy-duty
trucking energy solutions to market, and each station within the HYLA
hydrogen network will serve as an important step in the delivery of a
broader array of hydrogen fueling solutions to the commercial trucking
industry.
This purchase also includes the most recent design of Chart’s liquid
hydrogen transport trailers, building upon over 57 years of hydrogen
trailer experience. This new trailer is a lightweight option designed
to be pulled by hydrogen electric vehicles.
“We are excited to partner with Nikola and bring first-of-a-kind,
quickly deployable hydrogen solutions to the market,” stated Jill
Evanko, CEO and President.
“Nikola is on a mission to transform the transportation industry and
by aligning with forward-looking companies such as Chart, we are
confident this ambitious goal will be achieved,” said Michael
Lohscheller, President and CEO, Nikola Corporation. “We know our
customers are interested in transitioning to hydrogen quickly and
seamlessly. Solutions like Chart’s hydrogen transport trailers will
play an important part in jump starting a hydrogen ecosystem.”
With a range of up to 500 miles, the Nikola Tre hydrogen electric
vehicle is expected to have among the longest ranges of all
commercially available zero tailpipe emission Class 8 trucks while
realizing weight savings when compared to Class 8 BEVs with similar
range. The Tre hydrogen electric vehicle is well-suited for a variety
of applications ranging from drayage and intermodal to metro-regional
truckload and less than truckload to certain specialized hauling use
cases.
ABOUT
CHART INDUSTRIES
Chart Industries, Inc. is a leading independent global manufacturer of
highly engineered equipment servicing multiple applications in the
Energy and Industrial Gas markets. Our unique product portfolio is
used in every phase of the liquid gas supply chain, including upfront
engineering, service and repair. Being at the forefront of the clean
energy transition, Chart is a leading provider of technology,
equipment and services related to liquefied natural gas, hydrogen,
biogas and carbon capture and storage amongst other applications. We
are committed to excellence in environmental, social and corporate
governance (ESG) issues both for our company as well as our
customers. With over 25 global manufacturing locations from the
United States to China, Australia, India, Europe and South America, we
maintain accountability and transparency to our team members,
suppliers, customers and communities. To learn more, visit www.Chartindustries.com.
ABOUT
NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation
industry. As a designer and manufacturer of zero-emission
battery-electric vehicles (BEV) and hydrogen electric vehicles,
electric vehicle drivetrains, vehicle components, energy storage
systems, and hydrogen station infrastructure, via the HYLA brand,
Nikola is driven to revolutionize the economic and environmental
impact of commerce as we know it today. Founded in 2015, Nikola
Corporation is headquartered in Phoenix, Arizona. For more
information, visit www.nikolamotor.com or
Twitter @nikolamotor.
FORWARD
LOOKING STATEMENTS
Certain statements included in this press release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally are accompanied by
words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and
similar expressions that predict or indicate future events or trends
or that are not statements of historical matters. These
forward-looking statements include, but are not limited to, statements
regarding of each of Chart and Nikola; expectations regarding the
respective business model and strategy; the expectations regarding
projected truck builds and related specifications and the timing of
delivery of hydrogen electric trucks; the expectations for Nikola’s
trucks and market acceptance of electric trucks; slower than
anticipated growth of new clean energy product offerings; inability to
achieve expected pricing increases or continued supply chain
challenges including volatility in raw materials and supply; and
market opportunity. These statements are based on various assumptions,
whether or not identified in this press release, and on the current
expectations of Nikola’s management and are not predictions of actual
performance. Forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements, including but not
limited to general economic, financial, legal, regulatory, political
and business conditions and changes in domestic and foreign markets;
risks related to the conflict between Russia and Ukraine; the outcome
of legal proceedings to which Nikola is, or may become a party; the
conversion of pre-orders into binding orders; risks related to the
rollout of Nikola’s business and the timing of expected business
milestones; the effects of competition on future business; the
availability of capital; and the other risks and factors detailed from
time to time in each of Nikola’s and Chart’s respective reports filed
with the Securities and Exchange Commission, including factors
discussed in Item 1A (Risk Factors) in Chart’s most recent Annual
Report on Form 10-K filed with the SEC and Nikola’s quarterly annual
report on Form 10-K for the year quarter ended year ended December 31,
2022 and other documents Nikola files with the SEC. If any of these
risks materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. These forward-looking statements speak
only as of the date hereof and both Chart and Nikola specifically
disclaim any obligation to update these forward-looking statements.
NIKOLA
MEDIA CONTACT
press@nikolamotor.com
Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
www.exactrix.com
509 995 1879 cell, Pacific.
exactrix@exactrix.com
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